Pres. Trump's tax reform has a measure that would cancel federal deductions for state income tax. Rich, ppopulous states such as New York can have a very high state income tax and keep their money locally, while states with no income like Alaska pay their income tax to the Federal government entirely without state deductions. Eliminating the state income tax deduction would make rich states pay their fair share of the Federal budget instead of just receiving funds redistributed from tax payers in states with no or low state income tax.
Plainly Alaska should get with it and have a state income tax that could be spent in Alaska and deducted from the federal income tax if the Trump tax reform bill with a revision or two such as raising the tax on the 4th and highest income bracket to 65% so the share of the top ten percent of income earners in the nations stays below 50% where it is today. Even in 1929 the mmost rich had just 35% of the nation's income. The new reform tax bill plus the Obamacare bond slave policy for youth workers make it look llike the vast majority of Americans will be fairly powerless politically and economically. Yet I suppose the politically correct, realistic response is; 'who cares'.
Plainly Alaska should get with it and have a state income tax that could be spent in Alaska and deducted from the federal income tax if the Trump tax reform bill with a revision or two such as raising the tax on the 4th and highest income bracket to 65% so the share of the top ten percent of income earners in the nations stays below 50% where it is today. Even in 1929 the mmost rich had just 35% of the nation's income. The new reform tax bill plus the Obamacare bond slave policy for youth workers make it look llike the vast majority of Americans will be fairly powerless politically and economically. Yet I suppose the politically correct, realistic response is; 'who cares'.
